Show Assignment Ass America Baby Prince Reduces 1 Parents Parents' Income Tax B By y Inez Robb Kobb NEW r YORK Jan 5 INS From From meager reports seeping across the Atlantic I prince rince Charles Philip A Arthur rth u r George of Edinburgh Edinburgh Edin- Edin r burgh is a cute kid bright forlis for his lis age and no 5 S J more nore t trouble r a ubI e than han the ordinary ary A run un of American infants I IV V What hat may Y I s come as a surprise surprise surprise sur sur- prise to young i American merican parents parents parents par par- however cr is Inez Robb the fact that Bonnie Prince Charlie like any U S infant is just a great big bip boo f ul eyed blue I income tax reduction to his old folks I t Because he is kicking in the at Buckingham Prince Charlies Charlie's royal parents will ill not have to ante up quite so much scratch cratch for his majesty's government government govern govern- ment in 1949 In view of the inflated cost of oil talcum and dy-dee dy service he wont won't save Princes Elizabeth Elizabcth and the duke of Edinburgh Edinburgh Edin Edin- burgh much in point of fact t L On Paper Only But on paper the Ule future queen of England and her spouse are arc entitled to a slight reduction inthe inthe in inthe the income tax department in their new status as a married couple with one child Someday when Charles is a big bigboy bigboy bigboy boy and prince of Wales Vales he will willbe willbe willbe be self But until that day his parents are stuck with his bed bcd board and lollipops just as if H R P. H preceded his name I r am privy to these delicate facts on royal financing x because the British information service lowered its guard long enough for forme forme forme me to look at the ledgers A good look proves something few of us Americans know On the records and from any C CPAs CPA's P As A's viewpoint nt the Windsors robbed For every deflated pound paid out to the royal loyal family by his majest majesty's s government go that go government government gov gov- v- v collects three from his majesty The royal family is not only self-perpetuating self but self- self supporting I IThe The legal gimmick by which the the government makes a good thing out of the royal family began in 1760 when George e III never too bright at best traded the crowns crown's hereditary revenUes revenues for a fixed annual sum to support the Ule crowns crown's royal obligations Seldom Drew DrewIn I In the fiscal year 47 1946 the government collected in hereditary revenues from the crown while George VI was entitled entitled entitled en en- titled to a return dole of 1640 However since the beginning beginning- of World orId War Val II H his majesty has seldom drawn the known as the privy purse and allotted for his personal expenses This is the thc same allowance received by George Georg-e V at a time when the Coolidge e dollar was more than a wistful gleam in a bankers banker's eye This regal austerity thus cuts his majesty's dole to about 1200 which is a lot of cake or cod- cod liver oil from any angle At least it seems a lot until another look at the ledger reveals that the is for fixed expenditures expenditures expenditures expendi expendi- tures over which his majesty cant can't say boo Pr Private Prate ate Fortune George Gcorge VI for almost a decade has supported his brood out of the royal family's private fortune The exact heft of tins this fortune is known only to the king and in income income income in- in come tax branch of the treasury neither of which is talking The duchies of Cornwall and Lancaster are royal lands onto whose income the king can latch without interference by the gov gov- Take from Cornwall is about annually but this income his majesty has voluntarily voluntarily voluntarily volun volun- surrendered since the title of or Cornwall is subsidiary title to that of Prince of Wales Even E though Princess Elizabeth is heir to the throne she doesn't qualify for the title or all the lovely dough However her pa made a canny bargain with the government when he surrendered Cornwall's revenues His majesty held out for annually tax free for Elizabeth and tax free for the Duke of Gloucester his brother Even Evenso so the government made a clear on the deal Income Tax Take Tako George VI collects about annually from the Duchy of Lancaster But England's staggering stagger stagger- ing income taxes take all but a pittance Since her marriage Princess Elizabeth has been voted another by the government But even as a married woman with one child the tax cuts mounts to 82 minus expenses Parliament convinced that a husband should hould have his own money voted Philip an annual at the tho time of the royal wedding However even with Charlie to keep in vitamins the income tax slices Philips Philip's take take- home pay to |